EDUCATION GREAT BEYOND
LIFE COUNTRY GOD REPUBLIC
RELIGION LIBERTY FAITH FREEDOM
CONSTITUTION PRINCIPLES CONSERVATIVE
. . . TO NICER GUYS
By Pitchfork © 2011
Blog of Week of JULY 4, 2011
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Freely quote with attribution
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~ Some things that glitter are gold. ~
~ We’re not talkin’ hope and change, here. We’re just talkin’ change. Eh? Right? ~
“Fork opines that for 2 decades and more, banks – so-called ‘bullion banks’ and their little buddies so-called ‘raptors’ – have manipulated – understood to be primarily by valid and vaporous ‘short’ trading positions - the trading values of gold and silver to their profit, to the detriment of open market price discovery and asset allocations, and to the deception of near one and all as to the rotting from within of the greenback’s ‘good faith and credit’. Pick culprits from a broad, deep selection some say includes but need not be limited to a short list of U.S. monetary authorities and regulators and some ‘usual suspects’ in commercial and investment banking. Who yet knows who else?
Enter stage left a few hundred million Chinese individuals and some Chinese institutions able to buy and sell ‘allocated’ [read: real stuff in account name only, in unit-bite-sizes – no pool, no paper, no promises to pay] silver and gold using existing accounts and a mouse in their house or wherever else they may be on-line.
A lot of this gets sketchy, scratchy, or see-through. Leverage? Leverage rates? Futures? Options? Trading limits? Whose bid? Whose ask? Commissions? Custodian costs? Settlement? Possession? Market hours? Will trading connections extend to other Chinese market segments? To other connections elsewhere, e.g., U. S. resident Yuan accounts?
A lot of this seems verifiable. A few hundred million buyers and sellers to start. An exchange connected to the buyers’ and sellers’ banking accounts. The system went live in a mainland locale late last week. Trading media of exchange are renminbi and USD. An other-market-unaffiliated Pan Asia Gold Exchange (a/k/a Pan Asia Exchange), notably unaffiliated with the Commodities Exchange, Inc. (COMEX). A Chinese governmental environment that has and continues to encourage private ownership – savings, investment – in gold and silver bullion. Bullion – bars and coins. Global, major market storage, e.g., Zurich, London, etc. Unaffected by [and most likely unaware of] American precious metals market corruption, its corruptors and corruptees.
As the ‘Fork sees it, calls to cover will fall on deaf ears of dearly departed corporate bodies in graveyards hither, thither, and yawn. Couldn’t happen to nicer guys.
In tandem, where will oodles more gold and silver – especially silver – come from to feed the Asian tiger exchange? Economics says: from paying more to acquire it. ‘Fork says: from uncoupling the bullion metal prices from the paper metals’. Thusly, it won’t matter that Gary Gensler didn’t have the gonads to gitrdun. ‘Fork wonders how to say ‘Bite Me’ in impeckerable Mandarin.
In perspective, this might could be the thunderstorm of paper money rolling over paper metals.
“Pan Asia Gold Exchange welcomed for reducing influence of concentrated shorts”
Chris Powell 2011-06-30 [took quite a while to surface], Daily Dispatches, Gold Anti-Trust Committee (GATA)
And a subsequent, somewhat fuller supporting piece with video . . .
“Andrew Maguire supporting Rmb contracts on the new Pan Asia Gold Exchange” by Ned Naylor Leyland, 24th Gold, June 29th, 2011
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UPDATE: “Hong Kong Metals Exchange Opens Silver Contract Friday!” By Silver Shield, July 21, 2011, BestMetalResearch.comhttp://www.bestmetalresearch.com/wordpress/?p=2448
